Mr. LUFT. On the first map, we have the counties in black where indemnities have exceeded premiums. Those where premiums exceeded indemnities are designatd in gray; 626 of the 847 counties are in the gray category. On the second map, we have the States in black where indemnities have exceeded premiums. States with favorable experience are in gray and 24 of the 38 States are in this category. You will notice that even though several of the States have individual counties with premium deficits, the overall loss experience for the State is favorable. This emphasizes the need for a good distribution of our risks, and it illustrates one of the important reasons for our belief that more rapid expansion is needed. 1962 BUDGET PROGRAM Our 1962 budget estimate is about the same as 1961. There is no increase requested in appropriated funds. It does include a provision for an increase of $200,000 to pay administrative costs and operating expenses from premium income. The increase is to cover the additional cost of program expansion for the 1962 fiscal year. The 1962 budget provides for an increase in contract workload from 390,000 in 1961 to 415,000 in 1962. BAR CHARTS We have prepared some bar charts which give a rather complete history of the Corporation's experience since 1948. With your permission, we would like to have them inserted in the record. Mr. WHITTEN. Be glad to have those in the record, Mr. Luft. (The charts referred to follow :) The 1960 Crop Year Premiums and Indemnities are based on January 13, 1961 estimates Prepared January, 1961 United States Department of Agriculture THE 1960 CROP YEAR PREMIUMS AND INDEMNITIES ARE BASED ON JANUARY 13,1961 ESTIMATES, Crop PREPARED JANUARY 1961 United States Department of Agriculture Federal Crop Insurance Corporation PREMIUMS AND INDEMNITIES Crop Years 1948 - 1960 10 000 30'000 12,684 10,000 02.000 1948 49 50 51 52 53 54 55 56 57 58 59 60 THE 1980 CROP YEAR PREMIUMS AND INDEMNITIES ARE BASED ON JANUARY 13, 1961 ESTIMATES. PREPARED JANUARY 1961 |